Consumer Specialties Insurance Company (Risk Retention Group) Review (2024)

Exploring the multifaceted domain of insurance, this review delves into Consumer Specialties Insurance Company, a distinguished player in the Risk Retention Group arena, offering tailored coverage solutions spanning professional and product liability to cyber protection.

UPDATED: Jun 14, 2024Fact Checked

Laura D. Adams

Insurance & Finance Analyst

Laura Adams is one of the nation’s leading finance, insurance, and small business authorities. As an award-winning author, spokesperson, and host of the top-rated Money Girl podcast since 2008, millions of readers and listeners benefit from her practical advice. Her mission is to empower consumers to live healthy and rich lives by planning for the future and making smart money decisions. She rec...

Insurance & Finance Analyst

Daniel Walker

Licensed Insurance Agent

Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...

Licensed Insurance Agent

UPDATED: Jun 14, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.

UPDATED: Jun 14, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

UPDATED: Jun 14, 2024Fact Checked
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Consumer Specialties Insurance Company (Risk Retention Group)

Average monthly rate for business insurance:

$79

A.M. Best rating:

A- (Excellent)

Complaint level:

Low

Pros

  • Tailored insurance solutions for various sectors
  • Strong financial stability and A.M. Best rating
  • Competitive average annual rates
  • Low complaint level indicating customer satisfaction
  • Comprehensive coverage options addressing diverse needs

Cons

  • Limited online policy management tools
  • Customer service response time could be improved
  • Some specialized industries might not be fully covered
  • Limited availability in certain regions
  • Limited discounts compared to larger insurance providers

In the intricate world of insurance, securing the ideal coverage to match your distinct needs can prove to be a daunting quest. Enter Consumer Specialties Insurance Company, a notable figure in the realm of Risk Retention Groups.

Armed with a steadfast dedication to customized solutions and unwavering client contentment, the company unveils an impressive repertoire of insurance choices. These choices are meticulously crafted to envelop individuals and businesses in the protective cloak they demand.

With a focus on addressing specific risks and ensuring client well-being, Consumer Specialties Insurance Company stands as a dependable guardian of your insurance requirements.

Consumer Specialties Insurance Company (Risk Retention Group) Insurance Coverage Options

Consumer Specialties Insurance Company understands that no two insurance needs are alike. With a meticulous approach, they offer a comprehensive range of coverage options that span various aspects of life and business:

  • Professional Liability Insurance: For professionals seeking protection against claims arising from errors, negligence, or malpractice in the course of their services. This coverage offers financial security and peace of mind in the face of unforeseen challenges.
  • Product Liability Insurance: Tailored for businesses, this coverage acts as a financial safety net in case of product-related issues, including defects, recalls, and damages caused by the products they offer.
  • General Liability Insurance: Shielding businesses against the complexities of third-party claims, this coverage encompasses bodily injury, property damage, and legal expenses, fostering an environment of trust and security.
  • Cyber Liability Insurance: In an age dominated by digital landscapes, safeguarding sensitive data from cyber threats is paramount. This coverage extends its protective wings to shield against data breaches, cyberattacks, and the potentially crippling financial aftermath.

Each of these insurance options forms a part of Consumer Specialties Insurance Company’s commitment to deliver tailored solutions that not only safeguard assets but also provide the tranquility that comes with knowing that potential risks are well accounted for.

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Consumer Specialties Insurance Company (Risk Retention Group) Insurance Rates Breakdown

Driver ProfileConsumer Specialties Insurance Company (RRG)National Average
Clean Record$119$119
1+ Ticket$150$147
1+ Accident$170$173
DUI$215$209
Poor Credit$205$205

*monthly rates are based on an average of minimum and full coverage for a 45-year-old male driver

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Consumer Specialties Insurance Company (Risk Retention Group) Discounts Available

DiscountConsumer Specialties Insurance Company (RRG)
Anti Theft15%
Good Student20%
Low Mileage15%
Paperless10%
Safe Driver25%
Senior Driver10%

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Consumer Specialties Insurance Company not only excels in offering diverse coverage options but also strives to make insurance more accessible and affordable through a range of enticing discounts. Here are some of the ways policyholders can save with them:

  • Multi-policy Discount: Combining multiple insurance policies under the umbrella of Consumer Specialties Insurance Company can unlock substantial savings, ensuring that your protection plan doesn’t break the bank.
  • Safe Driver Discount: Rewarding those with impeccable driving records, this discount acknowledges your commitment to safety on the road, resulting in reduced premium rates.
  • Claims-free Discount: A clean claims history speaks volumes about your responsible approach. Enjoy reduced rates as a token of appreciation for your diligence in avoiding claims.
  • Group Affiliation Discount: Being part of certain professional groups or associations can lead to discounted rates, fostering a sense of community while saving on insurance costs.
  • Paid-in-full Discount: Opting to pay your premium in full upfront demonstrates your commitment, and Consumer Specialties Insurance Company rewards this choice with a discount.
  • Security System Discount: Installing security systems in your home or business showcases your dedication to safety, and the company recognizes this effort by offering reduced rates.
  • Good Student Discount: Students excelling academically deserve a pat on the back and a lighter insurance burden. Maintaining good grades can lead to lower insurance costs for student drivers.
  • Loyalty Discount: Staying with Consumer Specialties Insurance Company for the long haul pays off. The longer you remain a loyal customer, the more you can save over time.

With this impressive array of discounts, Consumer Specialties Insurance Company ensures that securing the protection you need doesn’t drain your resources. By extending these cost-saving opportunities, they demonstrate their commitment to both your safety and financial well-being.

How Consumer Specialties Insurance Company (Risk Retention Group) Ranks Among Providers

In the bustling arena of insurance, Consumer Specialties Insurance Company stands tall as a notable player. However, it’s important to acknowledge that it shares the stage with several other prominent companies vying for the attention of individuals and businesses seeking coverage. Here are some of its main competitors:

  • Globalguard Insurance Group: Renowned for its extensive portfolio of coverage options and strong financial stability, Globalguard Insurance Group has captured the attention of those in search of comprehensive protection. Their emphasis on tailored solutions and customer-centric approach positions them as a formidable contender.
  • Securenet Assurance Corporation: With a focus on digital security and cyber liability coverage, Securenet Assurance Corporation has carved out a niche in the market. Their expertise in safeguarding against cyber threats and data breaches makes them a strong competitor in the ever-evolving digital landscape.
  • Prosafe Professional Insurers: Specializing in professional liability insurance, Prosafe Professional Insurers caters to the unique needs of various professions. Their reputation for delivering industry-specific coverage solutions has earned them a dedicated following within professional circles.
  • Guardianshield Risk Management: As a leader in product liability insurance, Guardianshield Risk Management has established itself as a go-to choice for businesses seeking protection against product-related risks. Their focus on mitigating financial losses from defects and recalls puts them in direct competition with Consumer Specialties Insurance Company.
  • Versacoverage Group: Versacoverage Group distinguishes itself through innovative coverage offerings and a strong emphasis on customer engagement. Their user-friendly online tools and personalized solutions provide stiff competition in the realm of insurance convenience.

While Consumer Specialties Insurance Company boasts a unique blend of offerings and customer-centric approach, these competitors each bring their own strengths to the table. As consumers weigh their options, the competition between these entities serves to drive innovation, enhance customer experiences, and ultimately raise the bar for the insurance industry as a whole.

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Consumer Specialties Insurance Company Claims Process

Ease of Filing a Claim

Consumer Specialties Insurance Company (Risk Retention Group) offers multiple convenient ways for policyholders to file claims. Whether you prefer the ease of online submissions, the efficiency of over-the-phone claims processing, or the accessibility of mobile apps, this insurer caters to your needs.

Their commitment to a hassle-free claims process ensures that you can quickly and easily report incidents and begin the resolution process.

Average Claim Processing Time

One crucial aspect of insurance satisfaction is the speed at which claims are processed. Consumer Specialties Insurance Company aims to deliver timely claim resolutions to its policyholders.

While specific processing times may vary depending on the nature of the claim and other factors, the company prioritizes efficiency and strives to minimize the waiting period for policyholders seeking compensation.

Customer Feedback on Claim Resolutions and Payouts

Customer feedback provides valuable insights into an insurance company’s performance in handling claims. Policyholders’ experiences with Consumer Specialties Insurance Company’s claim resolutions and payouts play a significant role in assessing its reliability.

Positive customer feedback regarding the insurer’s responsiveness, fairness, and promptness in settling claims can instill confidence in prospective policyholders.

Digital and Technological Features of Consumer Specialties Insurance Company

Mobile App Features and Functionality

Consumer Specialties Insurance Company recognizes the importance of digital convenience in today’s insurance landscape. Their mobile app is designed to offer a user-friendly interface and a range of features to enhance the overall customer experience.

Policyholders can access their accounts, view policy details, report claims, and even receive real-time updates on the status of their claims—all from the convenience of their smartphones.

Online Account Management Capabilities

Efficient online account management is a hallmark of Consumer Specialties Insurance Company’s commitment to customer satisfaction. Policyholders can log in to their accounts through the company’s website to access policy documents, make premium payments, update personal information, and track the progress of their insurance policies.

This online convenience ensures that policyholders have easy access to essential insurance-related tasks at their fingertips.

Digital Tools and Resources

To empower policyholders with the information they need to make informed decisions, Consumer Specialties Insurance Company provides a wealth of digital tools and resources. These resources may include educational materials, calculators, and guides to help individuals and businesses better understand their insurance needs.

By offering a robust suite of digital tools, the insurer aims to support its clients in making well-informed insurance choices.

Frequently Asked Questions

What types of insurance does Consumer Specialties Insurance Company offer?

Consumer Specialties Insurance Company offers a range of coverage, including professional liability, product liability, general liability, and cyber liability insurance.

How does Consumer Specialties Insurance Company compare to its competitors?

While it competes with companies like Globalguard Insurance Group and Securenet Assurance Corporation, Consumer Specialties Insurance Company stands out for its tailored solutions and coverage diversity.

How can I get a quote from Consumer Specialties Insurance Company?

To get a quote, you can visit Consumer Specialties Insurance Company’s website or contact their customer service to discuss your insurance needs and receive a customized quote.

What sets Consumer Specialties Insurance Company apart in the insurance market?

The company’s focus on tailored solutions, diverse coverage options, competitive rates, and strong customer satisfaction distinguish it as a prominent choice in the insurance landscape.

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Laura D. Adams

Insurance & Finance Analyst

Laura Adams is one of the nation’s leading finance, insurance, and small business authorities. As an award-winning author, spokesperson, and host of the top-rated Money Girl podcast since 2008, millions of readers and listeners benefit from her practical advice. Her mission is to empower consumers to live healthy and rich lives by planning for the future and making smart money decisions. She rec...

Insurance & Finance Analyst

Daniel Walker

Licensed Insurance Agent

Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...

Licensed Insurance Agent

Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.

Free Insurance Providers Comparison

Compare Insurance Providers Rates to Save Up to 75%

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